Ciao Jr

Thank you the warm welcome in Italy.After came back from your company ,We have made the decision that choose 21’yacht for the first stage of our cooperation.

According to the MEMORANUM OF UNDERSTANDING between SCC and Tullio Abbate

Group, Tullio Abbate Group would like to supply the following at the price of

Europ Dollar 195,000:

- Moulds for production of 21”hull, deck and accessories;

- Technical know how transfer;

- 1 complete yacht model of 21’ without propulsion system;

- 1 SKD boat of the same model;

- 1 SKD deck of 21’ model.

During visiting in Tremezzo, we prefer to manufacture mould by

ourself. After came back to China and study, we accepts to import the mould

from Tullio Abbate Group in order to build the 21’ yacht in SCC as soon as

possible. But for the payment terms, we have a suggestion:

- 50% of total price will be paid trough L/C;

- SCC will pay the remains (another 50%) with the supply to Tullio Abbate Group

the yachts produced in China at a fair price agreed by both parties.

We hope to promote our coopration as soon as possible.So if you have any idea please contact with me.

Take care and best regards

Jim Dai

26 Feb.2006